Uranium Companies

There are very few pure uranium companies. Most companies, especially the small exploration type, are active in more than the uranium industry. This blog makes no attempt to guage the percentage of a companies activity that are related to the finding, mining or processing of uraniun. They all do, however, have some uranium activities (to the best of our review).

Merv's Uranium Indices

I have developed two Uranium Indices. They each have the same component stocks but are calculated using different methodologies. My weekly Index is based upon the average weekly performance of the component stocks. My daily Index is based upon the daily average of the component stocks open, high, low and close prices along with the daily average volume of all component stocks.

Click on the chart or table to enlage the view.

24 November 2009

Merv's Daily Commentary 24 Nov 2009

After The Close, 24 Nov 2009

Merv’s Daily Uranium Index
Market Data

Open: 177.26
High: 178.73
Low: 172.44
Close: 175.55
Volume: 5435

Note that the volume is an average volume of round lot sales for the 5 0 component stocks. For total volume, multiply by 5000.

Still in the “box” and inside the up trending channel but its longevity in the channel seems suspect. The Daily Index did move below the channel support line but ended the day just above the support. Tomorrow should tell us if is will stay in the channel or break below. Other than the 5 month slight up trend line and the channel I have drawn another support level just above the 170 mark. So many lines, so little action.

The Merv’s Daily Uranium Index closed the day on the down side. The Daily Index fell 1.77 points or 1.00%. There were 17 winners, 23 losers and 10 confused. As for the five largest stocks, they were all on the losers’ side. Cameco lost 1.7%, First Uranium lost 1.7%, Paladin lost 1.2%, Uranium One lost 0.3% and Uranium Participation lost 0.1%. The best winner of the day was Pinetree capital with a gain of 11.1% while the loser of the day was Consolidated Abaddon with a loss of 12.5%. Market Vectors Nuclear Energy ETF lost 1.5%.

Things are starting to change in the indicators. On the intermediate term the Daily Index has closed just below its moving average line although the line is still sloping upwards. The momentum indicator remains in its positive zone but has moved below its trigger line and the trigger has turned downward. As for the volume indicator, it is sitting right on top of its trigger line. The trigger is still slightly positive. The intermediate term rating has now degraded to a – NEUTRAL rating.

On the short term the Index closed below its moving average line and the line is sloping downward. The momentum indicator has moved into its negative zone and is below its negative trigger line. The daily volume action is just about at its 15 day average volume level and neutral in action. The short term has gone BEARISH.

The Stochastic Oscillator continues to head sharply lower and is well inside its negative zone heading towards the oversold line. The Index is below its very short term moving average line and the line slope is heading downward. The immediate direction of least resistance continues in the downward direction for another day.

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